SpaceX initiated, Humana upgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today’s research calls that investors need to know, as compiled by The Fly.
Top 5 Upgrades:
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Baird upgraded Humana (HUM) to Outperform from Neutral with a price target of $596, up from $390. The firm now has greater confidence in the company’s $35-plus of 2028 adjusted earnings per share power.
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Oppenheimer upgraded Fastly (FSLY) to Outperform from Perform with a $35 price target. The firm’s bullish stance is predicated upon its strong industry checks that indicated growing contract values and early monetization of agentic AI traffic.
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Monness Crespi upgraded Elastic (ESTC) to Buy from Neutral with a $120 price target. The company has executed well in recent quarters and has emerged from its “painful” salesforce segmentation adjustment in a stronger position, the firm tells investors in a research note.
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Morgan Stanley double upgraded Cboe Global Markets (CBOE) to Overweight from Underweight with a price target of $358, up from $258. The S&P contract renewal removes a key overhang for the shares, the firm tells investors in a research note.
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JPMorgan upgraded VF Corp. (VFC) to Neutral from Underweight with an unchanged price target of $18. The firm cites valuation for the upgrade, seeing a neutral risk/reward at current share levels following its recent fieldwork.
Top 5 Downgrades:
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JPMorgan downgraded DuPont (DD) to Neutral from Overweight with a price target of $145, down from $172, and removed the stock from its Analyst Focus List. The firm cites concerns around decelerating short cycle industrial demand into 2027 for the downgrade.
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JPMorgan downgraded Illinois Tool Works (ITW) to Neutral from Overweight with a price target of $270, down from $350, following a transfer of coverage. The firm cites concerns around decelerating short cycle industrial demand into 2027 for the downgrade.
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Keefe Bruyette downgraded Voya Financial (VOYA) to Market Perform from Outperform with a price target of $108, down from $110. The firm reduced Q3 EPS estimate by 1% on average for the life insurance group and trimmed 2027 EPS estimate by 1% due to weaker Q3 markets, the firm tells investors in a preview.
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Citi downgraded Pershing Square Inc. (PS) to Sell from Neutral with an unchanged price target of $45. The firm cites valuation for the downgrade with the shares above the price target following the recent rally.
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RBC Capital downgraded Knife River (KNF) to Sector Perform from Outperform with a price target of $58, down from $103. The firm adjusted ratings in the building materials group as part of a Q3 earnings preview.